The recent market trend analysis of SOL is as follows: its price first rebounded, then continued to decline, breaking through the support level near the upper edge of the 155-185 range. However, it later formed an hourly-level rebound. From a technical perspective, the support at the neckline is located in the area of the highs in May and July.
For the forecast of future trends, in terms of short-term rebound, it is expected that the price will rebound to around the daily MA30, but it should be noted that there will not be a direct V-shaped reversal. In the case of a second decline, after the rebound, there may be a daily-level pullback, and it is highly probable that a consolidation platform will be built through oscillation.
The following are key reference points:
- Resistance levels: 233.6, 245, 270, 283, 300.
- Support levels: 184.5, 169.3, 158.8, 152.3.
